PUBLISHER: DataM Intelligence | PRODUCT CODE: 1297841
PUBLISHER: DataM Intelligence | PRODUCT CODE: 1297841
The Global Men Personal Care Market reached US$ 59 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 120 billion by 2030. The market is growing at a CAGR of 9.2% during the forecast period 2023-2030.
The Global Men Personal Care Market is experiencing significant growth and expansion. This market encompasses a wide range of products specifically designed for men, including skincare, haircare, oral care, grooming, and fragrance products. Various factors contribute to the men personal care market's growth, such as evolving societal norms, increasing disposable income, and changing perceptions of masculinity.
The market size of men's personal care products is witnessing substantial growth as men become more aware of the importance of personal grooming and self-care. Fragrances in perfumes, colognes, and body sprays have become essential to men's grooming routines, further driving the Men Personal Care Market Growth.
As men's purchasing power rises, they are more inclined to spend on personal care products and grooming essentials. This surge in disposable income directly impacts the growth and expansion of the Men Personal Care Market. The rising disposable income of men leads to a shift in consumer behavior. Men are more willing to allocate a portion of their income towards self-care and grooming, recognizing the value and benefits of investing in their appearance and overall well-being. This behavioral change contributes to the overall growth of the Men Personal Care Market.
Social media platforms serve as a space for men to share their personal grooming journeys, creating a community that encourages and supports each other's self-care efforts. This sense of community and the ability to seek advice and recommendations from peers contribute to the growth of the men personal care market. As a result, the Global Men Personal Care Market responds to the influence of media and advertising by continuously innovating and expanding its product lines. Brands invest in research and development to introduce new and improved formulations, packaging, and marketing strategies that align with the latest trends and consumer preferences.
COVID-19 caused several challenges, including disruptions in the supply chain, declining consumer spending on non-essential items, changes in grooming habits, closures of physical retail channels, increased demand for home grooming solutions and hygiene products, and a surge in e-commerce adoption.
Supply chain disruptions caused shortages of men's personal care products while reduced consumer spending prioritized essential items over discretionary purchases. However, there was an increased demand for home grooming solutions and hygiene products as individuals focused on personal care without professional grooming services.
Artificial intelligence (AI)-based recommendation systems utilize customer data, including purchase history, skin type, and grooming preferences, to provide personalized product recommendations. This enhanced the customer experience, enabling men to discover products that best suited their individual requirements.
AI-powered chatbots and virtual assistants improved customer engagement by providing instant support and guidance. These intelligent systems addressed customer queries, offered personalized advice, and recommended suitable products, enhancing the overall shopping experience.
The Global Men Personal Care Market is segmented based on product, distribution channel, and region.
Razors held the largest share of the global men personal care market in 2022. They accounted for the largest portion of the market, driven by the high demand for shaving products among men. The market for razors was characterized by the presence of various established brands offering a wide range of options to cater to different preferences and needs. For instance, on May 13, 2020, Bulldog Skincare expanded its sustainable razor offering by introducing a second bamboo-based tool designed specifically for sensitive skin.
This move challenged legacy thinking and addressed a gap in the market for men's shaving products. By providing a razor option specifically tailored for sensitive skin, Bulldog Skincare aimed to meet the needs of individuals who required gentler and more accommodating shaving solutions.
In 2022, men's personal care product sales dominated the North American market. The region witnessed a high concentration of leading producers, particularly in the U.S., Canada, and Mexico, who prioritized research, growth, product innovation, development, and new product launches in the men's segment.
This emphasis on continuous improvement and diversification drove the region's demand for men's personal care products. With the presence of well-established and renowned brands, the market witnessed the entry of several new players, further contributing to the expansion of the personal care industry in the region.
The major Global Men Personal Care Market players include: Procter & Gamble, Unilever PLC, Estee Lauder Companies, Johnson & Johnson, Loreal SA, Avon Products, Incorporated, Kao Corporation, Colgate -Palmolive Company, Beiersdorf AG, Shiseido Company, Limited.
The Global Men Personal Care Market Report Would Provide Approximately 53 Tables, 50 Figures And 103 pages.
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